By: Hanan Mohamed

Doha-Mubasher: Qatar Stock Exchange (QSE) opened in the red on Sunday, weighed by a semi-collective drop in sectors.

QE index lost 0.16% or 19.23 points to reach 12,030.62 points by 10:20 Qatari time. Trading volume reached 1.78 million shares at QAR 51.11 million, traded through 1053 transactions.

Capital market analyst Ahmed Akl said if the index breaks below the 11,950-point level this week, it will likely move towards the support levels of 11,800 and 11,650 points, respectively. Meanwhile, a break above thethe 12,000-point level will take the index higher towards resistance at 12,100, 12,200 and 12,350 points, respectively

The insurance sector topped decliners by 0.64%, followed by the telecom, banks and financial services, transportation, and consumer goods and services sectors at 0.47%, 0.39%, 0.20% and 0.11%, respectively.

The real estate sector was the only gainer by 0.55%, backed by Ezdan Holding Group and Barwa Real Estate which advanced 1.12% and 0.30% respectively.

The analyst noted that the index needs high liquidity to cross key resistance levels including 12,200 and 12,350 points, respectively.

Medicare Group topped risers by 2.61%, while Qatar Navigation was the major decliner by 1.31%.

Translated by: Julian Nabil